OVS SpA Q3 2025 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Francesco Brilli - Intermonte SIM SpA - Analyst : Yes. Can you hear me? LSEG STREETEVENTS | www.lseg.com | Contact Us consent of LSEG. 'LSEG' and the LSEG logo are registered trademarks of LSEG and its affiliated companies. DECEMBER 18, 2025 / 2:00PM, OVS.MI - Q3 2025 OVS SpA Earnings Call

Question: Francesco Brilli - Intermonte SIM SpA - Analyst : Can you hear me now? Okay. Thank you. Good evening. Thanks for taking my question. Few questions from my side. The first one is on profitability. I mean, I see that very good developments, on each line, on each brand, on OVS and Upim, and, I was wondering if you can show us additional co on the other brands. I assume -- I'm assuming that also, STEFANEL is very close to breakeven at the EBITDA level. STEFANEL and GAP, while, I mean, Goldenpoint is anticipated, suffered from seasonality, and it was something I expected but, I was curious on more on this definitely, recovery, if you can add something on this. And then, on the margins of Goldenpoint for next year, do you think you will be already able to normalize the seasonality of Goldenpoint more than what, I mean more than this year, or, we will see also next year, some volatility or better margins in the key season, summer season, and then some weakness in the winter. And I would add, if I may, and an additional one more and more on the strategy. So, on international expansion, do you have some target or midterm goal on how much sales will come from international and in the midterm or if you have some target or something that you can share with us. Thank you.

Question: Francesco Brilli - Intermonte SIM SpA - Analyst : Thank you very much for these details.

Question: Andrea Bonfa - Banca Akros - Analyst : Hi. Thank you for taking my question. Some of my questions have been answered, but I would like to know if it's possible to have some development, or recent development on Kasanova, if any. And as far as the US dollar, how much did you cover for next year, if it's possible?

Question: Andrea Bonfa - Banca Akros - Analyst : Thank you, Stefano.

Question: Gian Marco Gadini - Kepler Cheuvreux SA - Analyst : Hi everyone. Thank you for taking my questions. I have some on the top-line growth. I would like to go into depth, in particularly as regards like for like growth, particularly if there were any seasonal effects or weather impacts in October that boosted the electoral growth, and thus, if we should expect some reversal in in Q4. And if and then if, this is the case, if you are you are seeing anything like that in in November and December and also about the closures and new, the impact of closures and new openings, on the like a lot like for like growth and very last question -- piece of question in, regarding like for a growth, if you can disclose the share of cosmetics in your -- in the overall, top-line figure. And if I may, regarding the free cash flow generation, if you have any indication particularly regards the last quarter cash generation and CapEx commitments. And if you can tell us something about the buyback if you are going to maintain the level of buybacks you're -- you have maintaining in the last couple of quarters. And, if this capital allocation policy -- if this can be defined as a capital allocation policy that can be assumed also for the next years. Thanks. Sorry for the amount of questions.

Question: Gian Marco Gadini - Kepler Cheuvreux SA - Analyst : Thanks. There was a last one as regards buybacks. If you can tell us anything, thanks.

Question: Gian Marco Gadini - Kepler Cheuvreux SA - Analyst : Sorry.

Question: Gian Marco Gadini - Kepler Cheuvreux SA - Analyst : Yeah. Many thanks.

Question: Domenico Ghilotti - Equita SIM SpA - Analyst : Good afternoon. My first question just is a clarification follow-up on the international expansion. When you say, the expansion with a full format, but you are referring to directly operated stores or franchise, and this is the key point. Then if you -- I have a question on the profitability that we have seen, so the very strong improvement in profitability. Can you elaborate on how are you managing costs? So what is the rents and personnel inflation that you are seeing and if you are benefiting more from a cost containment or gross margin expansion and, maybe also looking at 2026 or some preliminary thoughts on how do you see really the -- I'm not talking about profitability, probably it's too early, but, how are you managing, really the cost side, if you see the main tailwinds and headwinds that you see in 2026? And the very last question on, let's say a competitive environment. So I'm trying to understand because you're referring to a very tough market and you are referring to a market that is not growing overall. So, I'm trying to understand if there are some players that are, that have been more aggressive, more, taking share on the market as you are, and, or if you see really any change in the com the consumer behavior?

Question: Domenico Ghilotti - Equita SIM SpA - Analyst : Just to compliment on your comments, the online chat, do you see online channel still growing or frankly speaking, not anymore?

Question: Domenico Ghilotti - Equita SIM SpA - Analyst : Okay. Thank you.

Question: Luca Orsini Baroni - Orsa SRL - Analyst : Hello Max. Thank you for taking my call. My questions, I mean, just a few things I wanted to ask you. It's about -- do you have any -- do you track the average age and the average seeker, and can you tell us how they've been evolving this year? And then I have a second question on Altavia, which this time you haven't mentioned it, so maybe there is something you want to say there.

Question: Luca Orsini Baroni - Orsa SRL - Analyst : Please. It's the question is on the average age of your customers, whether you track it and where is it -- I know you track it and where is it going, and also the average ticket.

Question: Luca Orsini Baroni - Orsa SRL - Analyst : Okay, well done. Carry on like this. Thank you.

Question: Luca Bacoccoli - Intesa Sanpaolo IMI Securities Corp - Analyst : Yes, hello, good afternoon, everyone. Just to follow up from my side. Well, the first one is on the effects. One of the previous call you flag meaningful cost savings next year from a weaker US dollar. So, now you edged 80% of next year needs. So, if you have an update on the size of these savings and how you intend to deploy them. And the other follow-up is on the Golden Point. Saves you 10% year on year, thanks to new product offering. Can you comment on the ABI impact and any cost efficiency you achieved with the initial initiatives you put in place. Thank you.

Question: Luca Bacoccoli - Intesa Sanpaolo IMI Securities Corp - Analyst : Okay. Thank you.